Buffett's firm builds $10.7 bn stake in IBM

Legendary investor Warren Buffet revealed in a television interview that his company Berkshire Hathaway Inc has amassed nearly $10.7 billion of IBM shares this year. This gives Berkshire Hathaway more than 5 per cent stake in IBM.

Legendary investor Warren Buffet revealed in a television interview that his company Berkshire Hathaway Inc has amassed nearly $10.7 billion of IBM shares this year. This gives Berkshire Hathaway more than 5 per cent stake in IBM.

Berkshire 's investments are closely watched in the market because of Buffett's successful record. Earlier, Buffett had said that Berkshire has been buying aggressively during the recent market turmoil.

Buffett has long refused to invest in high-tech companies because he has said it's too difficult to predict which technology businesses will prosper in the long run.